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2017.01.19 17:03

Original Turtle Rules Trader - expert for MetaTrader 5

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votes: 13

Original Turtle Rules Trader EA implements a trading system described in the book "The Original Turtle Trading Rules".

According to the description given in the book, the famous Turtle Trader system consists of the following components:

  • Selecting the size of a trading position depending on the current market volatility.
  • Entering the market after the fast or slow Donchian channel breakout.
  • Skipping the second signal following the first successful breakout.
  • Adding new positions.
  • Placing and moving stop orders.
  • Exiting positions.

In full compliance with the description,

  • the system automatically tracks the current market volatility and calculates the optimal trading lot - unit;
  • the algorithm visualizes three Donchian channels on the chart: System 1 and System 2 channels, as well as the fast channel for exiting a position;
  • the EA skips the channel breakout (regardless of its outcome) if a successful trading signal was implemented before that;
  • the algorithm tracks a trade, closes a position after the fast channel breakout or adds positions after specified volatility intervals;
  • the EA sets and moves stops.

Instead of closing trades after the fast channel breakout, the algorithm can use the Parabolic SAR system or simply set a take profit.

Expert Adviser draws tree Donchian channel on a chart


  • Donchian channel for exit breakout - range for building the fast channel (entry channel).
  • Donchian channel for system-1 breakout - range for building the System 1 channel.
  • Donchian channel for system-2 breakout - range for building the System 2 channel.
  • Max. deposit share at risk in one trade - risk per one position as a deposit share.
  • Max. amount of "Units" per symbol - maximum acceptable number of units per symbol.
  • Adding interval (times ATR) - volatility interval for adding positions.
  • Stop loss (times ATR) - volatility interval for placing a stop order.
  • Take profit (times ATR) - volatility interval for placing a take profit
  • Allowable trade slippage - acceptable slippage.
  • Use SAR-system to trail SL - enable/disable Parabolic SAR system.
  • SAR system step - SAR system step.
  • SAR system cap - maximum SAR system step.

Translated from Russian by MetaQuotes Software Corp.
Original code:

CandelsHighOpen CandelsHighOpen

CandelsHighOpen Expert Advisor is based on the Candels High Open indicator trading signals module. The EA features trading market and pending orders, as well as trailing stop based on Parabolic SAR.

SignalCandelsHighOpen SignalCandelsHighOpen

Module of trading signals of the "Candels High Open" custom indicator for analyzing High and Open of the last three bars.


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